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Category > Accounting Posted 09 May 2017 My Price 5.00

Parson Freight Company issues 7%

 

On January 1 of 2015, Parson Freight Company issues 7%, 10-year bonds with a par value of $2,000,000. The bonds pay interest semi-annually. The market rate of interest is 8% and the bond selling price was $1,864,097. The bond issuance should be recorded as
 
 

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Alpha Geek
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Status NEW Posted 09 May 2017 11:05 AM My Price 5.00

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Attachments

file 1494328041-1527974_1_636298891470327877_Bonds-issue-Journal.xlsx preview (87 words )
15-----------279-----------74&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------476-----------882-----------Bon-----------ds -----------iss-----------ueO-----------n J-----------anu-----------ary----------- 1 -----------of -----------201-----------5, -----------Par-----------son----------- Fr-----------eig-----------ht -----------Com-----------pan-----------y i-----------ssu-----------es -----------7%,----------- 10------------ye-----------ar -----------bon-----------ds -----------wit-----------h a----------- pa-----------r v-----------alu-----------e o-----------f $-----------2,0-----------00,-----------000-----------. T-----------he -----------bon-----------ds -----------pay----------- in-----------ter-----------est----------- se-----------mi------------ann-----------ual-----------ly.----------- Th-----------e m-----------ark-----------et -----------rat-----------e o-----------f i-----------nte-----------res-----------t i-----------s 8-----------% a-----------nd -----------the----------- bo-----------nd -----------sel-----------lin-----------g p-----------ric-----------e w-----------as -----------$1,-----------864-----------,09-----------7. -----------$Ja-----------n 0-----------1,2-----------015-----------Iss-----------ued----------- 7%-----------,10----------- ye-----------ar -----------bon-----------ds -----------wit-----------h a----------- pa-----------r v-----------alu-----------e o-----------fIn-----------ter-----------est----------- pa-----------id -----------sem-----------i a-----------nnu-----------all-----------yMa-----------rke-----------t r-----------ate----------- of----------- In-----------ter-----------est----------- is-----------Bon-----------d s-----------ell-----------ing----------- pr-----------ice----------- Th-----------e b-----------ond----------- is-----------sua-----------nce----------- sh-----------oul-----------d b-----------e r-----------eco-----------rde-----------d a-----------sPa-----------rso-----------n
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